ABA Welcomes Proposed Revisions to the Volcker Rule

By Rob Nichols, ABA President and CEO

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​“From the moment the Volcker Rule was first unveiled, regulators and banks have struggled with its lack of clarity. With the passage of legislation last week and today’s proposed rulemaking, policymakers are now taking sensible steps to better tailor regulations consistent with risk.

“We are encouraged that today’s proposed rulemaking begins to address some of the complexity and uncertainty that has created needless compliance burdens and will allow banks to better serve their customers. We look forward to reviewing the proposal in full, and providing our members’ comments and perspective on how the rule can best promote financial stability and economic growth while maintaining safety and soundness.”

The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans. Learn more at aba.com.